You made the investment to purchase expensive, specialized equipment so you can deliver quality care to your patients. But does your current insurance program protect your valuable investment to the extent that you think it does? Let the experts at Dowling & O'Neil review the adequacy of your current plan to ensure that you're getting the comprehensive coverage and competitive value that you expect.
Business Income & Additional Expenses
You rely on your medical equipment. Are you certain that your current insurance program will reimburse you for the potential lost billings and additional expenses you'd incur if your specialized equipment was somehow damaged and couldn't be used in your practice?
True Replacement Cost vs. Actual Cash Value
Quite often, insurance policies "cover" medical equipment on an Actual Cash Value basis. This means that the check you receive from your insurance carrier would only pay you for the depreciated value of your equipment if it were damaged or destroyed by a covered cause of loss. The better alternative is a Replace Cost Valuation for your equipment whereby your insurance carrier would be contractually obligated to replace your old equipment with brand new equipment of the same kind and quality - and without any deduction for depreciation.
Do you know for sure whether or not the the specialized equipment that you use on a daily basis in your practice is insured correctly? Dowling & O'Neil can help you be sure that you have the coverage that you want and need.